Why Amazon Stock Jumped Today

Amazon (NASDAQ: AMZN) shareholders outperformed the market on Friday morning,

with shares up 3 percent at 10:45 a.m. ET, compared to a 1.4 percent increase in the S&P 500.

However, the boost only offset a small fraction of the e-commerce giant's recent losses;

the stock is still down approximately 30% so far in 2022.

The rise was fueled by a more optimistic forecast for economic growth and consumer spending.

The surge in the larger IT industry was a big reason propelling Amazon's stock higher on Friday.

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